All Forum Posts by: Derek Epperson

@Spencer Ellingson  I too am new to the self storage space and looking to both invest actively and passively.  I recently discovered a group out of TX called Pinnacle Storage Properties that is pretty active in Storage syndications.  I would also join the Self Storage Association and Inside Self Storage (ISS).  There are countless resources on there for all things storage (ISS is where I discovered the Pinnacle group).  Also check out if your state has a self storage association...most do but some more active than others.  Lastly, check out selfstoragetalk.com.  It's powered by ISS and is an online community like BP, not nearly as robust as the BP site, but it is nothing but self storage.  

If you're looking for training or education, Storage Rebellion (@mike wagner), @aj osborne, @scott meyers, and Mark Helm all have great content out there.  

Hope this helps.

@Theresa Harris Thanks for some of the ideas!  They actually rent a apt in a small 12 unit apartment building.  They are personal friends of the apartment's owner so I even thought about helping them approach him to see if he'd be willing to sell and do seller financing.  With a few improvements they could certainly raise the rents to market value and my step-dad could handle most of the maintenance and upgrades.  

I like the duplex idea too.  Less income but that would be way less work for them than a small apartment.  

Totally agree with you about the planning.  However I was in my early 40's before I finally woke up and got into RE investing.  For them I think they just thought working and saving what they could would get them by.  Sadly many people still fall into that line of thinking every day.

This may seem like an unusual question for this community but I'm sure many of you have or are experiencing a similar situation.  I have one parent who has retired and the other a few years away and are quickly finding out the "nest egg" isn't going to be nearly enough during their golden years.  They are the perfect example of working hard all their lives, saving what they could, and hoping what they saved will carry them through (philosophy of the 'poor dad' if you will).

I have a few thoughts, but this is a savvy, intelligent forum of investors with a variety of specialty areas so I would love to hear some creative ideas of how they could generate some additional income throughout their retirement years.  Not looking to create a real estate empire, just some cash flow to help them feel secure.  

Thanks!

@Scott Krone All good things to consider. Thanks Scott.

@Ronald Rohde Thank you. I know 2% is pretty common acquisition fee amount in multifamily but wasn’t sure with storage.

@Bryan Hancock Thank you Bryan.

@Greg Dickerson Thank you for the reply.

Question for all of the self storage investors out there...is it common to charge fees such as acquisition or asset mgmt fees in self storage syndication deal? I know these are common in multifamily syndications but wasn’t sure about self storage. Thanks!

@Haley Gant Good to know, thanks!

@Toby Jurging, the experience has been positive. I’ve used them for 2 separate investments this past year, and the process has been pretty seamless. I’m considering moving over to a Solo 401k however, so to not worry about UBIT taxes for future investments.